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EOH rocked by top-level resignations

Former CEO levels group.

Two of EOH Holdings’ most senior executives have resigned. Zunaid Mayet, a former group CEO and most recently CEO of Nextec, and Rob Godlonton, the CEO of EOH’s ICT business, have quit with immediate effect.

Non-executive director Pumeza Bam has also resigned from the board and various other EOH subsidiary boards and trusts, EOH said in a statement after markets closed in Johannesburg on Monday. Bam serves as an executive director of EOH for seven years and as non-executive director for the past two years.

Read: Departing EOH executives were not implicated in corruption – Van Coller

All three left EOH effective Friday, 12 July, the group said, without providing reasons for their resignations. The departures come just a day before EOH will release the findings of an independent probe into alleged corruption involving the group’s contracts with public sector entities, though it hasn’t said if the two are linked.

Mayet has been at EOH for the past decade and had replaced co-founder and former CEO Asher Bohbot in the top leadership position of the company before being moved to head up Nextec, a new company in the group that focuses on growth areas in the ICT sector.

“He has been involved in driving the new strategy which included the creation of Nextec and setting the wheels in motion for an enhanced governance process,” EOH said in Monday’s statement. “To ensure a smooth transition, Zunaid will assist with the handover of Nextec by 31 October 2019. He thereafter intends embarking on a new entrepreneurial venture.” – © 2019 NewsCentral Media

This article was originally published on TechCentral here

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The problem is of course that corruption is built into the very fabric of BEE, especially where government tenders are concerned. BEE is, in and of itself, a form of corruption, because it is antithetical to shareholders’ interests to give away parts of your company for free to those who do not add value, or not to deal with the cheapest suppliers. As long as there are BEE requirements, dealing with the government will be open to corruption.

Sometimes the C suite members leave for personal reasons or to spend time with their adorable little ones and their years of service are greatly appreciated and everybody wishes them all the best for their future endeavours. Other times however

Resigning with immediate effect? Should’t it be “fired with immediate effect”?

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